The President issued a determination stating there is enough oil available from countries other than Iran to allow for a significant reduction in purchasing Iranian oil. This decision is based on reports from the Energy Information Administration and considers global economic conditions, increased oil production by other nations, and strategic reserves. The Secretary of State is tasked with publishing this determination in the Federal Register. This action aligns with Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for FY 2012.
Simple Explanation
The President decided there is enough oil from places other than Iran, so countries can buy less oil from Iran. This means that if people use less Iranian oil, it might make a safer world, and important government workers will tell everyone about this plan.